Planet Labs Gets Contract From Ministry Of Foreign Affairs In Asia With 7-Figure Annual Value

Planet Labs PBC PL has won a new contract with a Ministry of Foreign Affairs in Asia for its global daily monitoring solution. 

While the exact value has not been disclosed, the company said the contract has a seven-figure annual contract value. 

The Ministry of Foreign Affairs is a new customer for Planet, and the contract was won through one of Planet's regional partners, which the company has not disclosed.

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"We are seeing strong momentum in the Asia-Pacific region from government customers focused on civil and security applications," said Will Marshall, Planet's co-founder and Chief Executive Officer. 

Price Action: PL shares are trading lower by 0.45% to $3.2950 on the last check Thursday.